Spire (SR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Spire

NYSE•Utilities•Utilities - Regulated Gas

$79.90-0.32(<0.01%)Pre-market

Market Cap

$4.71B

P/E

9.9x

P/S

2.1x

P/B

1.3x

Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas. In addition, the company engages in the operation of propane through its propane pipeline, risk management, and other activities. Spire Inc. was formerly known as The Laclede Group, Inc. and changed its name to Spire Inc. in April 2016. Spire Inc. was founded in 1857 and is based in Saint Louis, Missouri.

How this company scores

WeakMetricSide Score: 41/100

Grade capped at D — Interest coverage below 1× (0.3x) — earnings cannot cover interest. Strongest: Profitability (20/25); weakest: Cash & Earnings Quality (3/25).

Profitability20/25

Growth12/25

Balance Sheet & Red Flags6/25

Cash & Earnings Quality3/25

Strengths

Strong marginsRising earningsProfit converts from growth

Grade capped at D

Interest coverage below 1× (0.3x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.9x5y range 9.9x – 18.1x

Currently below its 20-quarter median.

P/S · 2.1x5y range 1.1x – 2.1x

Currently above its 20-quarter median.

P/B · 1.3x5y range 1.0x – 1.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 21.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $4.71B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.20B
Q. Revenue: $420.20M
TTM EBITDA: $961.40M
TTM Op. Income: $395.60M
Q. Op. Income: $23.40M
TTM Net Income: $474.50M
Q. Net Income: $211.20M
EPS: $3.57
Shares Out.: $59.00M

$2.20B in TTM revenue declined 9.6% YoY, reaching $420.20M last quarter. TTM EBITDA of $961.40M and TTM operating income of $395.60M show growth is flowing through to the bottom line. TTM net income of $474.50M means revenue is converting into profit. Over the past year, TTM revenue is down 10% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 28.2%
Op. Margin: 5.6%
Net Margin: 50.3%

Op. margin of 5.6% is down 23.6% YoY — costs are rising relative to revenue. Net margin at 50.3% Over the past year, operating margin is down 81% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 9.9x
P/S Ratio: 2.1x
P/B Ratio: 1.3x

At 9.9x P/E, the stock trades below typical market levels. P/S of 2.1x and P/B of 1.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $14.09B
Cash: $20.70M
Long-Term Debt: $5.76B
Book Value: $3.58B
D/E Ratio: 1.6
Debt/EBITDA: 48.6

With $14.09B in assets and $5.76B in long-term debt, D/E is 1.6and book value is $3.58B — moderate leverage. Over the past year, debt/equity is up 68% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $122.20M
TTM Free Cash Flow: $-313.80M
FCF Margin: -14.3%
FCF / Net Income: -0.7

TTM FCF of $-313.80M on $122.20M in operating cash flow. The FCF / Net Income ratio of -0.7x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 72% — a weakening trend.